Firan Technology Group will acquire Flyht Aerospace Solutions. The Toronto aerospace and defense-electronics company on Monday said it will purchase all of Flyht's outstanding shares for a combination of cash and stock, not to exceed 4.3 million Canadian dollars ($3.1 million) and 1.3 million Firan shares.

Firan Technology Group Corporation (TSX: FTG) (“FTG” or the “Corporation”) is pleased to announce that it has entered into a definitive arrangement agreement (the “Agreement”) with FLYHT Aerospace Solutions Ltd.

FLYHT Shareholders Entitled to Elect Cash or FTG Shares, Subject to Pro-ration, at a 41% Premium. Transaction Will Allow FLYHT Shareholders to Participate in Significant Potential